Market Update 5/17/10
You want to buy a home, why? While homeownership comes with many responsibilities that you need to be aware of, most financial advisers say there are also many advantages.
• You'll have a place that is yours!
Homeownership provides shelter and security for you and your family. You can pass your home down to your children, and their children, creating security for generations to come. Read more…
Did you know? The median value of home equity for homeowners was nearly 10 times the median value of stock wealth for stockholders at the end of 2007.
Among seniors, home equity makes up a large portion of portfolios, accounting for 26 percent of household wealth among all elderly and 59 percent among the low-income elderly in 2007. Read more…
Are you considering a short sale? In today's economic climate, many families are finding themselves in dire straits. The home that was once a blessing has now become a financial burden.
In an attempt to avoid Foreclosure, which can reap havoc on one's credit for years to come, homeowners are searching out details on short sales.
In simple terms, a Foreclosure is when, after defaulting on payments (typically after 3 months), an estate becomes the absolute property of the lender. And what's more, in some cases you, the homeowner, may also be responsible for "deficiency judgments." These mean if the sale of the foreclosed property doesn't satisfy the amount of the loan, you may be obligated to pay the difference. Read more…
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